Turmeric prices declined 0.79 per cent to Rs 7,470 per quintal in futures trade today as participants reduced exposure, triggered by sufficient stocks position on increased supplies from producing belts at the spot market.
In futures trading at the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 60, or 0.79 per cent to Rs 7,470 per quintal with an open interest of 9,880 lots.
On similar lines, the spice for delivery in far-month May shed Rs 60, or 0.78 per cent to Rs 7,546 per quintal in 415 lots.
Market analysts said offloading of positions by traders, triggered by adequate stock positions on increased arrivals from producing regions in the physical market against muted demand, weighed on turmeric prices at futures trade.
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